Roche Joins Race for Obesity Drugs with $2.7B Carmot Deal

Roche (ROG.S) agreed to take over unlisted obesity drug developer Carmot Therapeutics (CRMO.O) for $2.7 billion upfront, joining a list of contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk and Eli Lilly. The U.S. takeover target’s most promising drug candidate, a once-a-week injection called CT-388, is a dual GLP-1/GIP receptor agonist like Lilly’s (LLY.N) Mounjaro, or Zepbound. After encouraging Phase I trial results, the Carmot drug is ready to be tested on humans in the second of three trial stages, with a possible market launch in the 2030s, the head of Roche’s pharmaceuticals division Teresa Graham told Reuters.

Read the full article: Roche Joins Race for Obesity Drugs with $2.7B Carmot Deal //

Source: https://www.reuters.com/markets/deals/roche-acquire-carmot-therapeutics-27-bln-2023-12-04

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